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Wednesday, 04 March 20
CHINA IMPORTED 76.8 MLN TONNES OF CRUDE OIL FOR JANUARY & FEBRUARY 2020; UP 3.4% YOY - REFINITIV | BC
 The COVID-19 crisis has been gripping China already for almost two months now. It’s having a huge negative impact on the economy, and this is starting to show also in the trade figures.
In the first 2 months of 2020, China imported 76.8 mln tonnes of crude oil by sea, according to vessel tracking data from Refinitiv. This represents an increase of +3.4% y-o-y, compared to the 74.2 mln tonnes imported in the same two-month period of 2019. On a single-month basis, January showed a +2.5% year-on-year increase to 41.4 mln tonnes, whilst February showed a +4.6% increase year-on-year to 35.4 mln tonnes.
However, single month comparisons are misleading due to the shifting date of the Chinese New Year (which were in February last year but in January this year) – hence it makes more sense to look at the two months combined.
Whilst the data still shows positive growth in imports of +3.4% in the first two months of this year, this is a significant slowdown from the +18.6% growth seen in the same period last year, and also from the +5.2% y-o-y growth posted in 2018.
We now expect even more disappointing figures in March. During February 2020, sailings from the Arabian Gulf towards China were down almost by 10% year-on-year. Looking back at last year, China’s total seaborne imports of crude oil reached 447.6 mln tonnes in the 12 months of 2019, according to vessel tracking data from Refinitiv.
This represents an increase of +9.8% year-on-year, compared to the 407.7 mln tonnes imported in the whole of 2018. Last year, 47 percent of all crude shipments to China were sourced from the Arabian Gulf. Imports from Saudi Arabia increased by +47.5% year-on-year in 2019 to 77.9 mln tonnes. Saudi Arabia by itself accounts for 17% of all crude importsto China last year. Shipments from Iraq to China increased by +20.7% year-on-year in 2019 to 49.8 mln tonnes. Iraq accounts for 11% of China’s crude import volumes. Imports from Kuwait decreased by -4.4% y-o-y to 21.9 mln tonnes, however shipments from the UAE increased by +9.8% to 13.5 y-o-y. The biggest fall, of course, was from Iran ; volumes went down by -53.5% y-o-y to just 15.1 mln tonnes, down from 32.6 mln tonnes in 2018. Imports from Venezuela fell by -23.5% y-o-y in 2019 to just 10.4 mln tonnes. This however was more than compensated by a +39.9% increase in shipments from Brazil to 34.9 mln tonnes.
Shipments from West Africa to China increased by +6.2% in 2019 to 74.2 mln tonnes. West Africa accounted for 17% of all crude imports to China last year. The largest African exporter was Angola, with 44.7 mln tonnes, +0.9% y-o-y. Exports from Gabon almost doubled in 2019 to 6.9 mln tonnes, from 3.6 mln tonnes in 2018. Volumes from the Republic of Congo went down -12.0% to 11.7 mln tonnes, but from Nigeria almost trebled to 2.1 mln tonnes. Seaborne exports from Russia to China increased by +14.8 year-onyear to 29.4 mln tonnes. Naturally, the vast majority, 23.5 mln tonnes, came from Kozmino in Far East Russia, and 1.8 mln tonnes from Sakhalin. However, 2.9 mln tonnes were shipped all the way from Novorossiysk, and 0.6 mln tonnes from Primorsk! Volumes from the USA, unsurprisingly, crashed by -56.5% y-o-y to just 5.3 mln tonnes in 2019.
Source: Banchero Costa
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Tuesday, 14 January 20
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Saturday, 11 January 20
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Saturday, 11 January 20
BALTIC BRIEFING TANKER REPORT - WEEK 2
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- Indogreen Group - Indonesia
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- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
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- SMC Global Power, Philippines
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- Australian Coal Association
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- Trasteel International SA, Italy
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- Heidelberg Cement - Germany
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- Romanian Commodities Exchange
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
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- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Economic Council, Georgia
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- Vedanta Resources Plc - India
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- Chamber of Mines of South Africa
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- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
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- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
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- Chettinad Cement Corporation Ltd - India
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- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
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- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
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- Mercuria Energy - Indonesia
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- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
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- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
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- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
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- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
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- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
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- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
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- The University of Queensland
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- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
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- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
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- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
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- OPG Power Generation Pvt Ltd - India
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